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Ownership of Stocks

Da11 · 2021-02-16 14:14:18

Hey guys, Would you know who would the owner of the stocks for CGT purposes if let's say I buy stocks for someone through my online broker account?: My friend and myself want to buy stocks - the money is deposited into my Davy account , one purchase is made. Who would have to make CG declaration? I understand that personal…

16-02-2021 2:14pm

#1

Da11

Registered Users, Registered Users 2 Posts: 61 ✭✭

Join Date: June 2009

Posts: 30

Hey guys,

Would you know who would the owner of the stocks for CGT purposes if let's say I buy stocks for someone through my online broker account?:

My friend and myself want to buy stocks - the money is deposited into my Davy account , one purchase is made. Who would have to make CG declaration? I understand that personal exemption would work better if each of us declare CG return separately, but is there an issue that account is held only on my name?

Thank You

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Comments

#2 16-02-2021 11:43pm

Atlantic Dawn

Registered Users, Registered Users 2 Posts: 84,762 ✭✭✭✭

M

Join Date: January 2010

Posts: 84335

It would be a complete mess as brokers have to report gains to tax authorities and your name would be on it all as the sole PPSN reference making you liable. Why not open seperate accounts and share ideas?

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